Solana is tearing in the second half of the year. The Proof-of-History blockchain has jumped by 64.4% in price, rekindling bullish conversations across the market. Yet, even as Solana is climbing toward a new all-time high, numerous early investors are already considering what they perceive as the next big innovation in the market: DeSoc.
This new DeFi sensation has been dominating headlines with its innovative decentralized social media concept, which aims to replace centralized power in the social media space. DeSoc’s ongoing ICO has been at the center of investors’ attention, with over $10 million already raised. Is DeSoc really the next biggest thing in DeFi? Let’s find out.
DeSoc is the new cryptocurrency platform that empowers social media users and puts control back in their hands. The bright upstart uses smart contracts to counter personal data misappropriation by third-party intermediaries or centralized authorities.
This unique use case could see the platform rival Facebook, Instagram, and TikTok as it tackles the growing concerns over monopolistic control. Additionally, the platform facilitates content syndication, allowing users to publish their content simultaneously on other social media platforms (Facebook, Instagram, Twitter, TikTok, etc.). It is not just hype. DeSoc decentralized tech offers:
However, the DeSoc outlet is not just about being an alternative to existing social media platforms. With DeSoc, the internet community can unlock exclusive content access. For instance, a social media influencer can effectively monetize content accessible only to users who hold a specific amount of tokens.
This pay-per-access model enables any DeSoc user to monetize their content directly, providing users with exclusive access to premium or specialized content. Like most DeFi platforms, DeSoc has its governance token, which it utilizes for operations and to reward engagement. The ($SOCS) token is deflationary with a max supply of three million tokens.
After a tumultuous first quarter, Solana is back and better! Its latest recovery in the year’s second half coincided with a similar increase in its DeFi TVL. This metric has reached its highest level in six months, soaring above $10.453 billion, according to DefiLama. This impressive growth reflects an increase in the network’s DEX activity, particularly after the launch of LetsBonk.
Moreover, data from Blockworks noted a sharp rise in user activity. Its developer contributions have hit their highest in two months, a signal that often bodes well for the blockchain’s long-term prospects.
On the institutional front, the newly launched REX-Osprey SOL + Staking ETF has surpassed $100 million in assets under management, reaching as high as $101.7 million. In addition, corporate accumulation of SOL has also seen an uptick, with companies like SOL Strategy, DeFi Development Corp, and other firms accelerating their efforts.
But despite this, DeSoc’s appeal and potential haven’t gone unnoticed. Many SOL holders are already flocking to its newly launched presale that raked in a whopping $10M on opening day. Experts tip it as the next breakout star that could print a 100x gain for early, visionary investors.
Solana continues to attract interest in the crypto market. Its ability to sustain user and developer interest, alongside robust price action, suggests further growth potential in the months ahead. However, bigger and explosive returns are brewing elsewhere for market participants as DeSoc makes its debut.
Investors are taking notice; the $SOCS presale has already raised over $10 million, with millions of tokens sold at just $0.01. This price is still active on the website, but not for much longer as its launch date draws near.
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